Masaken Dubai Adds Rentify Instalments for Rent Across 22 Communities

Under the arrangement, residents whose rent is paid in four equal instalments can use Rentify to split the first of those payments into smaller amounts, easing the upfront cost at the start of a lease, the companies said. The option is open to qualifying new residents when they sign their contracts and to existing residents when they renew.

The deal brings monthly-style rent payments to a large block of Dubai housing in a market where tenants have traditionally paid a year's rent in one to four post-dated cheques. Rentify co-founder and chief executive Rashid Hareb Al Muhairi said paying rent monthly is drawing growing interest from Dubai residents, and that the platform offers rewards and full visibility of payments alongside the flexibility.

Rentify co-founder Rajneel Kumar said the company is building connected technology infrastructure for the rental sector that brings landlords, property managers, residents, banks and partners onto one platform. Through its partnerships with banks across the region, he said, residents no longer have to rely on a single way of paying rent.

Ahmed Al Suwaidi, general manager of Masaken Dubai, said that as owner and operator of one of the city's largest rental portfolios the company has a responsibility to keep improving residents' experience, from enquiries and move-in through to payments and renewals.

The Rentify option sits within Masaken Dubai's existing app, through which residents already file maintenance requests, renew contracts, handle move-ins and move-outs, make payments and manage their profiles. The companies did not disclose the eligibility criteria, any fees charged to tenants or the commercial terms of the partnership.